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Business Lessons from the 29th Olympiad

Posted on Wednesday, August 20, 2008 at 03:54PM by Registered CommenterPhilip Aust, Ph.D. in | CommentsPost a Comment | EmailEmail | PrintPrint

Even if you are not a sports fan, it’s been difficult avoiding NBC’s unprecedented coverage of the 29th Olympics in China. Despite the fact that many skeptics wondered if NBC was crazy transmitting 3,600 hours of Olympic television and webcast coverage, the peacock network has struck gold. This Olympics’ Nielsen ratings have far outpaced the viewership of the previous summer Olympics in Greece, and its numbers are second only to this year’s Super Bowl. These Olympics have not disappointed for a variety of reasons; here are just two.

First, the Beijing Olympics remind us of the value of competition. Although a few select events have been won easily by a dominant individual or team (see Usain Bolt in the Men’s 100 Meter Dash), the victor has often been unknown until the last seconds of most events. Arguably the most enduring image of this Olympics is Michael Phelps, the winner of eight gold  medals in Bejing, celebrating with his teammates when the U.S. Men’s swim team came from seemingly certain defeat to out-touch France at the wall in the 4 x 100 Men’s freestyle relay. In short, competition affords its participants the ability to definitively measure one’s performance.

Second, the Bejing Olympics remind us of the value of cooperation. Name any other event in existence today where 202 nations meet and follow the same set of rules for two weeks. You can’t. As Baron Pierre de Coubertin, the French enthusiast that helped resurrect the modern Olympic Games, stated in 1896, “The most important thing in the Olympic Games is not to win, but to take part” (Uschan, 2000, p. 8). Indeed, each Olympiad provides a snapshot of what can be accomplished when nations choose to agree, rather than disagree. (As a reminder, these events occurred against the backdrop of Russia’s invasion of Georgia.) In short, cooperation is the foundation of progress.

Competition and cooperation: Two reasons why these Olympics have drawn a record-breaking audience and two powerful tools for any CEO or manager focused on increasing company production and profits in these challenging economic times.

Hobbies Help Expand Your Network

Posted on Friday, August 1, 2008 at 11:55AM by Registered CommenterPatti Ghezzi in , | CommentsPost a Comment | EmailEmail | PrintPrint

My friend works at Georgia Tech, and one of her tasks is keeping parents occupied while their kids attend new student orientation. She told me how a parent asked for ideas on what to get his son as a birthday gift. My friend advised golf lessons.

“My son doesn’t play golf,” the man said.

“He should,” my friend replied. “The golf course is where all these big business deals are made.”

Parents reached for their pens to scribble down those words of wisdom. It got me thinking how important hobbies are as a networking tool.

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A Quarter Century of Excellence

Posted on Friday, July 18, 2008 at 04:17PM by Registered CommenterPhilip Aust, Ph.D. in | CommentsPost a Comment | EmailEmail | PrintPrint

It’s hard to believe, but 2007 marked the 25th anniversary of In Search of Excellence by Tom Peters and Robert Waterman (1982). Their work is as significant today as when it was released, because of the question it asks (i.e., “What are the qualities of the exceptional organization?”), the answer to that question, and the research tradition it initiated. (See Jim CollinsGood to Great for the latest installment in differentiating company haves from have nots.)

If it’s been some time since you reviewed Peters and Waterman’s analysis of 62 top- performing organizations (e.g., IBM, 3M, Proctor and Gamble), here is a quick refresher:books_insearchofexcellence_lg.jpg

1. Excellent organizations react quickly to market changes.

2. Excellent organizations make decisions based on customer needs.

3. Excellent organizations encourage employee risk-taking.

4. Excellent organizations encourage strong superior-subordinate relationships.

5. Excellent organizations value employee productivity and performance.

6. Excellent organizations stick to what they do best.

7. Excellent organizations spell out, in detail, who is responsible for each task.

8. Excellent organizations prioritize a common value system in achieving stated goals.

As a corporate consultant, I encourage that company owners and mangers review these themes annually for a number of reasons: First, they clarify if a company is progressing or regressing over time. Like humans, companies exhibit distinct stages of growth over their life cycle (Miller & Friesen, 1984). Periodically, it is important to ask, “Which of these themes has our company prioritized to date?” Second, the themes function as standards for assessing current company performance (e.g., “How do our customers rate our service at this time?”). And third, the themes provide a template for developing future company objectives (e.g., “In what ways do we encourage employee risk-taking for the purpose of improving product quality?”).

If you haven’t considered Peters and Waterman’s themes in a while, do so. They provide a time-tested framework for determining if your company is on the path to greatness in good, and not so good, economic times.

Two Words That Changed My Life

Posted on Tuesday, July 15, 2008 at 05:03PM by Registered CommenterThe SearchLogix Group in | CommentsPost a Comment | EmailEmail | PrintPrint

by Rick Houcek

Eighteen years ago, I was given a gift.  One that has served me well every day since.  A gift that has been an inspiration to every leader I’ve shared it with.

I’d like to share it with you.

It was 1990 and I was president of an Atlanta ad agency.  We were a division of a $700 million Michigan-based agency with offices in half a dozen or so cities.  I ran the southeast. 

Our CEO was in his 60s and was a high-energy, hard-charging marketing machine of the highest magnitude.  I didn’t get a lot of face time with him, but what I got was worth gold.  Watching him interact with people and listening to him talk … well, you saw quickly why he was CEO.

Intelligent, well read, charismatic, articulate, driven to win, hard-nosed, well dressed, impeccable manners — he seemed the complete package.  I was both impressed by and mystified at his intense energy for his age.  He was 20 years my senior. 

Like most leaders, he was widely misunderstood and often criticized — though never to his face.  I watched other company leaders yield to his power and wishes in his presence, then mock and poke and jab and laugh when huddled in private cliques.  I was often in attendance at these bludgeonings, but never joined in the attack. 

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The Benefits of Going Dark

Posted on Wednesday, July 9, 2008 at 04:54PM by Registered CommenterThe SearchLogix Group in | CommentsPost a Comment | EmailEmail | PrintPrint

blackberry-pearl.jpgBy Bill Catlette

 

In our 2007 book , Contented Cows MOOve Faster, we included a chapter on the vital role a leader plays in communicating with his/her troops, and transmitting real world reality back up the line. We noted that, despite all the information transmission modes and methods now available to us (think Crackberry, podcasts, blast email, conference calls, et. al.) we do a poorer job of communicating, as in making meaning, than ever.

It’s not that we don’t use the available devices, in fact, quite the opposite. As the result of all the pitches, directives, updates, and FYI’s being constantly beamed about, most of us go thru the day feeling as though our lips are permanently fused to an informational fire hose. While the “word” may be getting out, it is impossible for the human mind to deal with all that stuff.

There are additional unintended consequences to this situation. The frantic effort to deal with the constant barrage of data simply wears people out. Working your way through a hundred or more emails (probably ten of which are worthwhile), realizing that more are simultaneously arriving over the transom is tedious and tiresome, not to mention a bit depressing. Exchanging voicemail messages nonstop via cell phone while driving across town to meetings is equally exhausting, and dangerous.

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Know Your KPI's

Posted on Monday, July 7, 2008 at 11:55AM by Registered CommenterAndy Gross in | CommentsPost a Comment | EmailEmail | PrintPrint

If you are a candidate and looking for new opportunities, you need to be prepared to clearly discuss your current and past achievements. There is a lot to be said about having a well rehearsed 30 second elevator pitch that provides a macro view of your company and role. You also need to be able to elaborate and provide your Key Performance Indicators / KPI’s.

The top performers in any field all know their statistics or KPI’s and more importantly, can discuss and articulate them. Whether you are a MLB baseball coach trying to put your team in the best position to win by using a past performance of a particular match-up or a Global Procurement Manager analyzing the best vendor to select using an established criteria scorecard; you need to know your KPI’s. Could you imagine a pilot flying without using KPI’s?

Recruiters are not immune to this either and should know their KPI’s – 5 to 1 resume to placement ratio, 4 to 1 job order to placement ratio, $20k average placement fee, 21 days to fill, etc. This information is vital to running a productive desk and can serve as a barometer of success of a given period of time. Recruiters need to know their KPI’s and use them while talking with hiring authorities.

Good data and statistics are hard to argue and professionals need to be able to identify the most critical success factors / KPI’s, track them and work towards your goals. I like to refer to this as ‘finger tip’ knowledge and when used properly is very powerful. If you are not already using KPI’s, I would highly recommend establishing them. In today’s competitive job market, having a well rehearsed elevator pitch and being able to articulate the scope of your role is paramount.

Times Change: Embracing a Path with No Fork

Posted on Thursday, July 3, 2008 at 03:25PM by Registered CommenterPatti Ghezzi in | CommentsPost a Comment | EmailEmail | PrintPrint

My friend Mark can’t help musing over how times have changed.

Three years ago, he had his pick of positions when he was ready to jump from Giant Corporation X to Smaller Company Y. Recently, he decided it was time to get back to a large company. He put his résumé out and made contact with the recruiters who had helped him over the years.

My how times have changed.

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Georgia Unemployment Rate Highest in 15 Years

Posted on Monday, June 23, 2008 at 11:34AM by Registered CommenterThe SearchLogix Group in , | CommentsPost a Comment | EmailEmail | PrintPrint

By MICHAEL E. KANELL
The Atlanta Journal-Constitution

The jobless rate in Georgia leaped last month to the highest level it has reached in May since 1993.

The official rate rose from 5.3 percent in April to 5.8 percent in May, paralleling the large leap taken by the national unemployment rate.

“Georgia’s May unemployment report confirms that we are facing an increasingly difficult economic environment,” said Michael Thurmond, state labor commissioner.

Higher unemployment rates often mean that the labor market has weakened. However, economists consider the rate to be a lagging and somewhat inexact indicator.

A slowing economy typically does not immediately shove jobless rates much higher. On the other hand, an improving economy is often accompanied by rising rates as more people seek work.

Critics often argue that the official jobless rate understates problems. It does not include people who are out of work and have not been looking for a job. And it does not include

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Heraclitus, Change Management, and Innovation

Posted on Friday, June 20, 2008 at 03:12PM by Registered CommenterPhilip Aust, Ph.D. in | CommentsPost a Comment | EmailEmail | PrintPrint

If you are up on your Greek history, you know who Heraclitus is. If not, here is the CliffsNotes version. Heraclitus was a Presocratic philosopher who lived circa 530 to 480 B.C. Whereas history credits him with penning over 100 proverbs, he is best known for one basic idea: Heraclitus believed the universe is in a perpetual state of change.

Whenever Heraclitus chose to elaborate on his unique philosophy, large crowds gathered. On one occasion, Heraclitus illustrated his belief by going to a stream’s edge and stepping into and then back out of the water. Feet%20in%20River%20Pic%202.jpgHe asserted that if he stepped back into the stream, it was not the same stream, because of the change brought about by his initial step. Although it is unclear to what extent his audience was convinced of his belief, his insight has stood the test of time. In fact, if alive today, Heraclitus would be the poster boy for modern business. As Fishman (1997) notes, “ It’s not that the business environment is changing. Change is the business environment. And it’s not that every company is undergoing change. Change has overtaken every company” (p. 64).

Given this fact, business leaders have two options: react to change or initiate it. Let’s consider both alternatives. First, adept managers acknowledge that change is a fact of life. As a result, they routinely identify which changes have the greatest impact on worker productivity and satisfaction, and ultimately profits. They then develop plans to manage change as it occurs. Second, adept managers initiate change by recognizing the role of innovation to business success. Innovation involves improving a product, process, or service (Robbins, 2003). Innovations can impact internal (e.g., improving the assembly of a product) or external (e.g., serving customers more efficiently) aspects of a business. In both options (i.e., react to change or initiate it), outstanding companies are characterized by managers who seek out (e.g., in meetings), value, and reward employee input to manage change. Does your company do this? If not, change is in order.

Given the perpetually shifting global marketplace, Heraclitus was right: the universe is in a perpetual state of change. According to Fishman (1997), creating, managing, and surviving change is the agenda for anyone or any company that aims to make a difference. Master change, and you will stand out from the crowd. 

The Tipping Point: Energy forecasters predict $12 to $15 for a gallon of gas

Posted on Tuesday, June 10, 2008 at 05:19PM by Registered CommenterThe SearchLogix Group in | Comments2 Comments | EmailEmail | PrintPrint

by Dawn Turner

 

Oil%20rig.jpgSenior Energy Advisor, Robert Hirsch recently told CNBC that the today’s gas prices will soon be referred to as “the good old days”. He, and other energy watchers, are predicting that the price of a gallon of gas could rise as high as $12 to $15 a and there is no solution in sight. Energy forecasters further predict that once gas prices reach those levels, gas rationing will need to begin. Don’t think it could happen? It did in the 70s. Yes, the 1970s, just a few decades ago. During that time OAPEC decided to penalize countries, namely the U.S., Japan, and Western Europe, because they were supporting Israel during the Yom Kippur War.

After the OAPEC embargo took effect in the 1970s, consumers in the U.S. bought gas when the government “said they could”. If your car’s license plate ended in an odd number, you were allowed to buy gas on odd numbered days. If your license plate ended in an even number, you were allowed to buy gas on even numbered days. Sounds pretty easy, doesn’t it? Well, it was, if your local service station had gas that is. It wasn’t unusual to drive up to a service stations and see a “No Gas” or an “Out of Gas” signs. The U.S. government never implemented gas rationing coupons, although they had printed during 1974 and 1975, in anticipation of a prolonged gas shortage.

The recent news about fuel prices, may be the kind of scenario that Malcolm Gladwell was referring to in his book called”The Tipping Point”. The premise of his book is that “little things can make a big difference”. The tripling of gas prices, that experts are predicting, will undoubtedly change life for all of us in a very, very big way.

“We live in a world where there is only about 1.2% more oil available each year, not enough to keep up with 1.5% annual demand growth.”- Charles T. Maxwell, senior energy analyst at Weeden & Co., known as the “dean of energy analysts.”

Imagine for one moment,

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